Journey to prepare the 2024-29 Regulatory Proposal is underway
Essential Energy has commenced its 2024-29 Regulatory Proposal process. The Proposal is due to be submitted to the Australian Energy Regulator (AER) for review and approval in January 2023. The AER’s decision will determine Essential Energy’s expenditure allowances for the five years, beginning 1 July 2024 through to 30 June 2029, and the associated revenues that the business can collect from customers. It will also establish the services that the regulated part of our business can undertake.
Essential Energy intends to work closely with customers and stakeholders in preparing the Proposal - to understand what is important to them, gather their views and feedback on the numerous aspects that comprise the submission and then clearly demonstrate how that feedback has been considered and informed the Proposal put forward.
A collaborative approach to engagement
Essential Energy won the Energy Networks Australia Consumer Engagement Award for its industry leading engagement approach for the 2019-24 Regulatory Proposal and for the 2024-29 Proposal, we intend to raise the bar even further.
The energy industry is in the midst of rapid change and never before has customer and stakeholder input into a Proposal been more important than now. We need to ensure that our network can deliver the products and services that our customers desire both now, and in the future. To do that, we need to know what is important to our customers, what they see as important and valuable and what trade-offs are they prepared to accept in return for lower network prices.
We will work with stakeholders to separate those areas and topics where engagement effort needs to be spent from those that can be dealt with simply and with less effort. This means our engagement will encompass a range of engagement techniques from the International Association for Public Participation (IAP2) spectrum, from ‘Consult’ through to ‘Collaborate’.
This is a step up from our last proposal where our engagement peaked at the ‘Involve’ level. Through co-design with customers and stakeholders, we intend to submit a Proposal to the AER that is capable of acceptance in the first instance.
Journey to prepare the 2024-29 Regulatory Proposal is underway
Essential Energy has commenced its 2024-29 Regulatory Proposal process. The Proposal is due to be submitted to the Australian Energy Regulator (AER) for review and approval in January 2023. The AER’s decision will determine Essential Energy’s expenditure allowances for the five years, beginning 1 July 2024 through to 30 June 2029, and the associated revenues that the business can collect from customers. It will also establish the services that the regulated part of our business can undertake.
Essential Energy intends to work closely with customers and stakeholders in preparing the Proposal - to understand what is important to them, gather their views and feedback on the numerous aspects that comprise the submission and then clearly demonstrate how that feedback has been considered and informed the Proposal put forward.
A collaborative approach to engagement
Essential Energy won the Energy Networks Australia Consumer Engagement Award for its industry leading engagement approach for the 2019-24 Regulatory Proposal and for the 2024-29 Proposal, we intend to raise the bar even further.
The energy industry is in the midst of rapid change and never before has customer and stakeholder input into a Proposal been more important than now. We need to ensure that our network can deliver the products and services that our customers desire both now, and in the future. To do that, we need to know what is important to our customers, what they see as important and valuable and what trade-offs are they prepared to accept in return for lower network prices.
We will work with stakeholders to separate those areas and topics where engagement effort needs to be spent from those that can be dealt with simply and with less effort. This means our engagement will encompass a range of engagement techniques from the International Association for Public Participation (IAP2) spectrum, from ‘Consult’ through to ‘Collaborate’.
This is a step up from our last proposal where our engagement peaked at the ‘Involve’ level. Through co-design with customers and stakeholders, we intend to submit a Proposal to the AER that is capable of acceptance in the first instance.
